Nexus Mutual
Announcements
Nexus Mutual is a peer-to-peer risk sharing mutual built using smart contracts and blockchain technology. Instead of traditional insurance agreements between the insurance company and a policyholder, it’s a membership-based discretionary mutual that protects its members against hacks and pays out their claims based on communal voting. The first coverage plan offered is called smart contract cover, which provides discretionary coverage against technical risks, such as software bugs in smart contracts.
Nexus Mutual operates as a discretionary mutual, wherein members can stake against a contract to show they believe in it’s security, or purchase smart contract cover to protect themselves in the event there is a hack. The mutual is backed by a pool of capital. Any member can buy coverage, in ETH or DAI, in case of a failure.
When a claim is triggered, NXM (the token held by Nexus Mutual members) holders can vote on whether or not to pay out the claim. While payouts are not contractually guaranteed, the members are incentivized to act fairly to not only support their own member’s claims but to support the trusted reputation of the mutual so that it can both maintain and grow its membership into the future.
About Chainlink
Chainlink is the industry-standard oracle platform bringing the capital markets onchain and powering the majority of decentralized finance (DeFi). The Chainlink stack provides the essential data, interoperability, compliance, and privacy standards needed to power advanced blockchain use cases for institutional tokenized assets, lending, payments, stablecoins, and more. Since inventing decentralized oracle networks, Chainlink has enabled tens of trillions in transaction value and now secures the vast majority of DeFi.
Many of the world's largest financial services institutions have also adopted Chainlink's standards and infrastructure, including Swift, Euroclear, Mastercard, Fidelity International, UBS, ANZ, and top protocols such as Aave, GMX, Lido, and many others. Chainlink leverages a novel fee model where offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link
The Chainlink Labs Channel Partner strategy is intended to outline a joint approach between Chainlink Labs and select accelerators, launchpads, incubators, devshops, and software tools to promote the user adoption and growth of the web3 ecosystem. Chainlink Labs and the channel partners will collaborate to accelerate and nurture the web3 ecosystem in key areas including gameFi, NFTs, developers, and startups.
Chainlink Labs is the leading provider of secure and reliable open-source blockchain oracle solutions, enhancing smart contracts by connecting them to a wide range of off-chain data sources and computations, such as asset prices, web APIs, IoT devices, payment systems, and more. We are dedicated to the development and integration of Chainlink as the standard decentralized oracle framework used by smart contracts across any blockchain.
